April 29th, 2009
Grave Robbing Affects More than Astor-nomical Estates
By Lou Ann Anderson
April 29, 2009
www.EstateofDenial.com
In life, Brooke Astor represented the best of New York high society exemplifying gracious living and philanthropic generosity. That she, in her last years, would become an alleged victim of elder abuse was unimaginable. And in death, Brooke is still making headlines as Anthony Marshall, her only child, is on trial for looting his mother’s estate of nearly $200 million. As Marshall and codefendant attorney Francis X. Morrissey, also charged with stealing from the estate and of forging Brooke’s signature on an estate document, are on trial in a Manhattan courtroom, it is important to understand the implications of this case as similar grave robbing and property poaching acts are taking place across the U.S. Other targets are not celebrities, the estate values are far more modest, but Involuntary Redistribution of Assets (IRA) – the use of probate venues or probate instruments (wills, trusts, guardianships and powers of attorney) to steal from the dead and disabled/incapacitated - is becoming a lucrative business with Americans of all economic levels at risk.
Brooke Astor did not fail to perform proper estate planning. That’s routinely the position put forth by the legal industry, but in reality, it’s often a self-serving excuse. Defrauding estates is on the rise because in today’s society, it’s relatively easy to accomplish. The most important lesson of this case is that if a woman with Brooke Astor’s savvy and resources was unable to surround herself with a network of trusted individuals knowledgeable of her wishes and armed with documents to protect her and her property upon incapacitation and/or death, why should anyone else think their chances for success are better?
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1 comment:
This leave me with tears. My mother who had Alzheimer's disease was admitted to Reno Nevada center when no more then one hour when her wedding ring was taken right off her finger. It was the only thing that she wanted me to have when she passed. They said they had investigated the crime during that two hour time slot and found nothing. As I looked into her eyes she kept wiping her loving and old weak finger I knew she felt the pain. It still hurts today. Its more then money could ever buy for her memory. God Bless those who cannot fend for themselves and those who cover-up the crimes.
berta
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